6850$ to consider long entry

Morning guys,

As we've suggested upside bounce from 3/8 support was really great, and there was minor reverse H&S formed but it has not turned to real upside continuation, as price of BTC has dropped back to the level.
It makes us think that we would better to consider for long entry Agreement of AB-CD target and major 5/8 support at 6850-6900$ area.

This level, by the way could become the right bottom of daily reverse H&S pattern.

Also we keep our experiment with Hash Ribbon Indicator that shows mining capitulation periods based on Hash rate level. Today it gives "buy" signal. You can see it in our video on FPA website.

If our suggestion is correct, then downside AB-CD action should give us "222" Buy pattern on daily as well.